Unit 711: Strategic Planning

Unit 711: Strategic Planning

Unit code: Y/506/9070 RQF level: 7

Aim

This unit is about the value of the strategic planning process in formulating appropriate strategies and designing a plan that will be supported by stakeholders and other organisational leaders. The critical review of the plan and its success is also addressed in the unit.

Learning Outcomes and Assessment Criteria

Learning Outcomes

1. Be able to conceive and analyse strategic options

2. Be able to formulate a strategic plan

3. Be able to implement, evaluate, monitor and review the strategic plan

Assessment Criteria

1.1 Critically analyse and identify the organisation’s strategic aims and objectives including the approach adopted to strategic planning

1.2 Determine alternative strategic options available and the implications for the organisation

1.3 Critically evaluate the impact of stakeholder expectations on a strategic plan and the planning horizon 2.1 Critically evaluate the strategic options available to the organisation over the existing planning horizon and factoring in wider context market and competitor impacts 2.2 Assess and determine the priorities and feasibility of alternative options over the existing planning horizon

2.3 Carry out a risk assessment of the preferred strategy and alternatives

2.4 Identify, justify and articulate the selected strategies within the plan and address any potential problems

2.5 Produce a strategic plan and its components to achieve the selected strategic direction

3.1 Critically review the organisational and market factors to be considered in the implementation of the strategic plan

3.2 Determine and apply a range of tools and concepts to monitor and review the strategic plan

3.3 Determine the impact of the strategic plan on the organisation’s direction and achievement of the organisation’s objectives

Indicative Content

In this unit learners will be introduced to the concepts, ideas and models that underpin an organisation setting or taking a strategic direction. The models and concepts briefly discussed include:

• Organisational aims and objectives • Alternative Strategic Options • Strategic Tools and Techniques • Other Tools and Techniques • Stakeholder expectations • Strategic options • Risk Assessment • Components of a Strategic plan • How to evaluate, monitor and review a strategic plan.

Core Text

• Exploring Strategy, Johnson, G, Whittington, R and Scholes, K. London Financial Times / Prentice Hall 9th Edition 2011

Suggested Resources

• Johnson, G, Whittington, R and Scholes, K (2013) Exploring Strategy. London: Financial

Times / Prentice Hall. • Johnson, M. W., Christensen, C. M., & Kagermann, H. (2008). Reinventing your business model. Harvard Business Review, 86(12), 50-59. • Kaplan, R. S., & Norton, D. P. (2007). Using the balanced scorecard as a strategic management system. Harvard Business Review, 85(7/8), 150-161. • Markides, C. and Williamson, P. (1996). ‘Corporate diversification and organizational structure: A resource-based view’. Academy of Management Journal: 39(2): 340 • Martin, J. and Sayrak, A. (2003). ‘Corporate diversification and shareholder value: a survey of recent literature’. Journal of Corporate Finance, 9(1): 37–57. • Neilson, G. L., Martin, K. L., & Powers, E. (2008). The secrets to successful strategy execution. Harvard Business Review, 86(6), 60-70. • Johnson, G, Whittington, R and Scholes, K (2011) Exploring Strategy. London: Financial

Times / Prentice Hall. • Strategic management system. Harvard Business Review, 85(7/8), 150-161. • Martin, J. and Sayrak, A. (2003). ‘Corporate diversification and shareholder value: a survey of recent literature’. Journal of Corporate Finance, 9(1): 37–57. • Porter, M. E. (1996). What is strategy? Harvard Business Review, 74(6), 61-78. • Sethi, R., Iqbal, Z., & Sethi, A. (2012). The Role of Micropolitical Strategies. Journal of Marketing, 76(2), 99-115. doi:10.1509/jm.09.0308.